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Case Study – Obtaining a mortgage with a bad credit rating

Case Study – Obtaining a mortgage with a bad credit rating

Customer’s initial enquiry

I first spoke to my customer on the 8th June 2020, he had fallen on hard times and this had affected his credit file. Resulting in 11 defaults, 6 late or missed payments and a missed mortgage payment along with 11 payday loan accounts. He was looking for some support to improve his credit score with the aim being to be able to buy his first property in around 6 – 12 months. I caught up with him on a monthly basis and helped to guide him through the process of improving his credit file. During this time he paid off a number of debts and improved his credit score dramatically.

The challenges we faced together

Improving his credit file sufficiently, enabling me to find a mortgage lender that would be willing to offer him a mortgage to buy his first home.

What happened next?

I was able to successfully submit his application to a mortgage lender which allowed him to put in an offer on his first home.

How did this help the customer?

My customer was able to fulfil his dreams of being able to purchase a property following a very difficult period in his life. This reminds me of why I love being a Mortgage Adviser at The Mortgage Broker Ltd.

Feedback received from the customer

“Thanks for your help on this, you have been amazing”.